Changes

<div style="font-size:30px">'''PMT(r,np,pv,fv,ty)'''</div><br/>

<div style="font-size:30px">'''PMT(r,np,pv,fv,ty)'''</div><br/>

*<math>r </math> is the interest rate.

*<math> np </math> is the total number of payment periods.

 

*<math> pv </math> is the at present value.

*<math>Rate </math> is the interest rate.

*<math> fv </math> is the future value.

*<math> NoPaymentPeriods </math> is the total number of payment periods.

*<math> ty </math> is the type.

*<math> PresentValue </math> is the at present value.

*<math> FutureValue</math> is the future value.

*<math> Type</math> is the type.

==Description==

==Description==

*This functon gives the payment amount for the loan.

*This functon gives the payment amount for the loan.

*It is based on the period, fixed payments and a fixed interest rate.  

*It is based on the period, fixed payments and a fixed interest rate.  

*In <math>PMT(r,np,pv,fv,ty)</math> ,<math> r </math> is the annual rate of interest for the loan.

*In <math>PMT (Rate,NoPaymentPeriods,PresentValue,FutureValue,Type)</math> ,<math> Rate </math> is the annual rate of interest for the loan.

*Suppose we are taking  a loan for 8 percent annual interest rate and paying the amount in monthly, then the <math> r </math> value is 8%/12.  

*Suppose we are taking  a loan for 8 percent annual interest rate and paying the amount in monthly, then the <math> Rate </math> value is 8%/12.  

*So we have to enter the <math> r </math> value as  8%/12 or 0.6667% or 0.006667 in to the formula as the rate.

*So we have to enter the <math> Rate </math> value as  8%/12 or 0.6667% or 0.006667 in to the formula as the rate.

*<math> np </math> is the total number of payment periods in an annuity.

*<math> NoPaymentPeriods </math> is the total number of payment periods in an annuity.

*<math> pv </math> is the present value or the amount borrowed or the principal of the loan.

*<math> PresentValue </math> is the present value or the amount borrowed or the principal of the loan.

*<math> fv </math> is the future value of an investment or loan (the value you want to achieve at the end of all periods) when we are omitting the value of <math>fv </math> ,then it is assumed to be 0.  

*<math> FutureValue </math> is the future value of an investment or loan (the value you want to achieve at the end of all periods) when we are omitting the value of <math>FutureValue </math> ,then it is assumed to be 0.  

*i.e.,future value of a loan is 0.  

*i.e.,future value of a loan is 0.  

*<math> ty </math> is the number 0 or 1 which is specifies the time to make a payment during the period.  

*<math> Type </math> is the number 0 or 1 which is specifies the time to make a payment during the period.  

*when we are not giving the value of <math>ty</math>, then it is assumed to be 0.

*when we are not giving the value of <math>Type</math>, then it is assumed to be 0.

{| class="wikitable"

{| class="wikitable"

|-

|-

! ty value

! Type value

! Explanation

! Explanation

|-

|-

*The amount given by the function <math> PMT </math> not containing any taxes,rserve payments or extra fees related with the loan.  

*The amount given by the function <math> PMT </math> not containing any taxes,rserve payments or extra fees related with the loan.  

*But it contains only the principal amount and interest only.  

*But it contains only the principal amount and interest only.  

*Also to calculate the total amount paid during the loan period, multiply the returned <math> PMT </math> value by <math> np </math>.

*Also to calculate the total amount paid during the loan period, multiply the returned <math> PMT </math> value by <math> NoPaymentPeriods </math>.

==ZOS Section==

==ZOS Section==